0001144204-14-058883.txt : 20141001 0001144204-14-058883.hdr.sgml : 20141001 20141001090625 ACCESSION NUMBER: 0001144204-14-058883 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20140930 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20141001 DATE AS OF CHANGE: 20141001 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SHORE BANCSHARES INC CENTRAL INDEX KEY: 0001035092 STANDARD INDUSTRIAL CLASSIFICATION: NATIONAL COMMERCIAL BANKS [6021] IRS NUMBER: 521974638 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-22345 FILM NUMBER: 141131448 BUSINESS ADDRESS: STREET 1: 18 EAST DOVER STREET CITY: EASTON STATE: MD ZIP: 21601-3013 BUSINESS PHONE: 4108221400 MAIL ADDRESS: STREET 1: 18 EAST DOVER STREET CITY: EASTON STATE: MD ZIP: 21601-3013 8-K 1 v390415_8k.htm FORM 8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): October 1, 2014 (September 30, 2014)

SHORE BANCSHARES, INC.

(Exact name of registrant as specified in its charter)

Maryland	0-22345	52-1974638
(State or other jurisdiction of	(Commission file number)	(IRS Employer
incorporation or organization)		Identification No.)

28969 Information Lane, Easton, Maryland 21601

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: (410) 763-7800

N/A

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions:

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On September 30, 2014, Shore Bancshares, Inc. (the “Company”) issued a press release announcing the appointment of Edward C. Allen as the President and Chief Executive Officer of CNB, the Company’s wholly-owned bank subsidiary, which will be effective as of October 1, 2014. Mr. Allen will succeed F. Winfred Trice who resigned as CNB’s President and Chief Executive Officer and as a director of CNB on September 30, 2014, effective immediately.

For further information about the appointment of Mr. Allen and the resignation of Mr. Trice, see the full text of the press release issued, which is attached as Exhibit 99.1 to this Current Report on Form 8-K.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

The exhibits that are filed or furnished with this report are listed in the Exhibit Index that immediately follows the signatures hereto, which list is incorporated herein by reference.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	SHORE BANCSHARES, INC.

Dated: October 1, 2014	By:	/s/ Lloyd L. Beatty, Jr.
		Lloyd L. Beatty, Jr. President and Chief Executive Officer

EXHIBIT INDEX

Exhibit

Number	Description

99.1	Press Release, dated September 30, 2014

EX-99.1 2 v390415_ex99-1.htm EXHIBIT 99.1

Exhibit 99.1

Shore Bancshares Subsidiary, CNB, Names New CEO

Easton, Md., Sept. 30, 2014 /PRNewswire/ -- CNB, one of the two banking subsidiaries of the Shore Bancshares Inc. (NASDAQ: SHBI) today announced that its board of directors has appointed CNB CFO, Edward C. Allen as president and chief executive officer, effective immediately. This appointment follows the resignation of F. Winfield Trice, Jr. as the bank’s President and Chief Executive Officer, and his resignation from the CNB Board of Directors.

“I am very proud to leave CNB with a dedicated team, and in a strong financial condition and market presence,” said Mr. Trice.

On behalf of Shore Bancshares Inc., president and chief executive officer, Scott Beatty said, “We appreciate Win’s contributions to CNB over the last 7 years. He helped to guide the Bank through a very difficult time in the banking industry. Through the period he also worked to expand our presence in the Delaware region. We wish Win well in the next phase of his career.”

Mr. Allen joined CNB as chief financial officer in 2011, and previously served as chief financial officer at Independence Bank. Mr. Allen has extensive banking experience aside from his previous roles as chief financial officer. “We are fortunate and pleased to have someone as qualified as Ed to move into the CEO role” said Clyde Kelly, chairman of the board of CNB.

In addition CNB also announced the appointment of Lynn Payne as the CFO of CNB. Ms. Payne previously served as chief financial officer at Prince George’s Federal Savings Bank. Ms. Payne makes her home in Centreville, Maryland, the town in which CNB is headquartered.

Mr. Allen said “We have an experienced leadership team in place at CNB and Shore Bancshares that are committed to growth and I look forward to working closely with them as we continue to move forward our strategic objectives.”

As president and chief executive officer, Mr. Allen will work with Shore Bancshares executive team to facilitate a smooth leadership transition while overseeing the company’s day to day operations.

CONTACT: Scott Beatty, 410-763-7800